EPIC RESEARCH MCX NICKEL UPDATE OF 3 AUGUST 2016

Nickel trading range for the day is 694.4-737.8.  
Nickel dropped on profit booking after support seen as Philippine President warned mining companies to strictly follow tighter environmental rules.       Meanwhile, a crackdown against pollution in China will mostly affect production of nickel ore and refined nickel.         
An unexpected drop in construction spending in June suggested second-quarter economic growth was probably even weaker than reported last week.

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